2026-04-20T13:12:08-04:00 2024-06-30 522212837 GREENE FINNEY CAULEY LLP 908 N MAIN ST ANDERSON SC 29621 990 2024-04-15 992636731 SPARTANBURG STADIUM FACILITIES CORPORATION SPAR 8645962119 295 E MAIN ST SPARTANBURG SC 29302 DENNIS LOCKE SECRETARY/TREASURER 8645962755 2026-04-17 true true CHRISTOPHER S CAULEY P00534004 8642258713 2026-04-17 2023 2025-03-06 01:10:19Z X X CHRIS STORY 295 E MAIN ST SPARTANBURG SC 29302 26631 false X X 2024 SC THE SPARTANBURG STADIUM FACILITIES CORPORATION (THE CORPORATION) IS INTENDED TO BE AN ON BEHALF ISSUER OF THE CITY OF SPARTANBURG, SOUTH CAROLINA (THE CITY). THE CORPORATION ASSISTS THE CITY BY ACQUIRING, DEVELOPING, SELLING, DONATING, CONTRIBUTING, OWNING, OPERATING, LEASING, MANAGING, FINANCING, OR REFINANCING REAL PROPERTY AND IMPROVEMENTS THEREON IN THE CITY. 3 1 0 0 0 0 26631 0 26631 0 0 0 0 0 1350000 1350000 -1323369 62496631 63820000 -1323369 X THE SPARTANBURG STADIUM FACILITIES CORPORATION (THE CORPORATION) IS INTENDED TO BE AN ON BEHALF ISSUER OF THE CITY OF SPARTANBURG, SOUTH CAROLINA (THE CITY). THE CORPORATION ASSISTS THE CITY BY ACQUIRING, DEVELOPING, SELLING, DONATING, CONTRIBUTING, OWNING, OPERATING, LEASING, MANAGING, FINANCING, OR REFINANCING REAL PROPERTY AND IMPROVEMENTS THEREON IN THE CITY. false false 1350000 IN 2024, THE CORPORATION ISSUED ITS 63,820,000 INSTALLMENT PURCHASE REVENUE BONDS, TAXABLE SERIES 2024 (THE 2024 BONDS). THE PROCEEDS OF THE 2024 BONDS WERE PRIMARILY USED TO DEFRAY THE COST OF DESIGN, ACQUISITION, CONSTRUCTION, AND EQUIPPING OF A MULTI-USE MUNICIPAL STADIUM INTENDED FOR USE PRINCIPALLY AS A MINOR LEAGUE BASEBALL VENUE (THE STADIUM). THE CITY HAS GROUND LEASED THE SITE OF THE STADIUM UNTIL APRIL 1, 2059 PURSUANT TO A GROUND LEASE AGREEMENT BETWEEN MORGAN & HENRY JOF ESA II, LLC AND THE CITY FOR A BASE RENTAL AMOUNT OF 1.00 PER YEAR. THE CORPORATION AND THE CITY ENTERED INTO A BASE LEASE AND CONVEYANCE AGREEMENT, AND AN INSTALLMENT PURCHASE AND USE AGREEMENT, PURSUANT TO WHICH THE CITY HAS THE RIGHT TO USE THE STADIUM, AND WILL PURCHASE THE STADIUM FROM THE CORPORATION IN INSTALLMENTS, AND THE CORPORATION WILL USE THE CITY'S INSTALLMENT PAYMENTS TO MAKE DEBT SERVICE PAYMENTS ON THE 2024 BONDS. THE CITY HAS SUBLEASED THE STADIUM TO THE TEAM OWNER. ONE HUNDRED PERCENT OF THE ACTIVITIES OF THE CORPORATION RELATE TO ACTIVITIES ON BEHALF OF THE CITY. THE ACTIVITIES OF THE CORPORATION LESSEN A BURDEN ON THE CITY IN THAT THE CITY APPROVED THE ISSUANCE OF THE 2024 BONDS ON THE CITY'S BEHALF AND SELECTED CITY PROJECTS TO BE FINANCED WITH THE PROCEEDS OF THE 2024 BONDS (E.G. AN OBJECTIVE MANIFESTATION BY A GOVERNMENTAL UNIT THAT IT CONSIDERS THE ACTIVITIES OF THE CORPORATION TO BE ITS BURDEN). IN ADDITION, THE CORPORATION'S ACTIVITIES ASSISTED THE CITY IN DEFRAYING A GOVERNMENTAL EXPENSE. THE CORPORATION'S ACTIVITIES LESSEN THE BURDEN ON THE CITY BECAUSE THE 2024 BONDS ARE A SOURCE OF FINANCING THAT IS NOT SUBJECT TO THE SOUTH CAROLINA CONSTITUTIONAL LIMITATIONS ON DEBT ISSUED BY THE CITY. THE CORPORATION MAY ISSUE BONDS OR ARRANGE OTHER FINANCING IN THE FUTURE TO ACQUIRE AND CONVEY PROPERTY TO THE CITY. 1350000 true false false false false false false false false false false false false false true false false true false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false X 3 1 false false false false false true true true false false false false false false false false false false X DENNIS LOCKE 8645962119 295 E MAIN ST SPARTANBURG SC 29302 CHRIS STORY PRESIDENT 0.05 50.00 X X 0 181448 10200 DENNIS LOCKE SECRETARY/TR 0.25 45.00 X X 0 107219 33986 COLE ALVERSON VICE PRESIDE 0.05 0.00 X X 0 0 0 288667 44186 false true false 26631 26631 26631 26631 CITY BASE LEASE RENT 1350000 1350000 1350000 1350000 0 0 60402957 2093674 0 62496631 63820000 0 63820000 X -1323369 0 -1323369 0 62496631 -1323369 X false true X false false X X 1 CITY OF SPARTANBURG 576000024 6 true 0 0 1 0 true true false false false false false false false false false false false false false true false PART IV, SECTION A, LINE 2 THE SUPPORTED ORGANIZATION IS A U.S. CITY GOVERNMENTAL UNIT. AS SUCH, IT IS NOT REQUIRED TO OBTAIN RECOGNITION OF ITS PUBLIC CHARITY STATUS. INSTALLMENT PURCHASE REVENUE BONDS 63820000 63820000 false false false false false false false false false CHRIS STORY PRESIDENT 181448 10200 191648 FORM 990 - ORGANIZATION'S MISSION THE SPARTANBURG STADIUM FACILITIES CORPORATION (THE CORPORATION) IS INTENDED TO BE AN ON BEHALF ISSUER OF THE CITY OF SPARTANBURG, SOUTH CAROLINA (THE CITY). THE CORPORATION ASSISTS THE CITY BY ACQUIRING, DEVELOPING, SELLING, DONATING, CONTRIBUTING, OWNING, OPERATING, LEASING, MANAGING, FINANCING, OR REFINANCING REAL PROPERTY AND IMPROVEMENTS THEREON IN THE CITY. FORM 990, PAGE 2, PART III, LINE 4A IN 2024, THE CORPORATION ISSUED ITS 63,820,000 INSTALLMENT PURCHASE REVENUE BONDS, TAXABLE SERIES 2024 (THE 2024 BONDS). THE PROCEEDS OF THE 2024 BONDS WERE PRIMARILY USED TO DEFRAY THE COST OF DESIGN, ACQUISITION, CONSTRUCTION, AND EQUIPPING OF A MULTI-USE MUNICIPAL STADIUM INTENDED FOR USE PRINCIPALLY AS A MINOR LEAGUE BASEBALL VENUE (THE STADIUM). THE CITY HAS GROUND LEASED THE SITE OF THE STADIUM UNTIL APRIL 1, 2059 PURSUANT TO A GROUND LEASE AGREEMENT BETWEEN MORGAN & HENRY JOF ESA II, LLC AND THE CITY FOR A BASE RENTAL AMOUNT OF 1.00 PER YEAR. THE CORPORATION AND THE CITY ENTERED INTO A BASE LEASE AND CONVEYANCE AGREEMENT, AND AN INSTALLMENT PURCHASE AND USE AGREEMENT, PURSUANT TO WHICH THE CITY HAS THE RIGHT TO USE THE STADIUM, AND WILL PURCHASE THE STADIUM FROM THE CORPORATION IN INSTALLMENTS, AND THE CORPORATION WILL USE THE CITY'S INSTALLMENT PAYMENTS TO MAKE DEBT SERVICE PAYMENTS ON THE 2024 BONDS. THE CITY HAS SUBLEASED THE STADIUM TO THE TEAM OWNER. ONE HUNDRED PERCENT OF THE ACTIVITIES OF THE CORPORATION RELATE TO ACTIVITIES ON BEHALF OF THE CITY. THE ACTIVITIES OF THE CORPORATION LESSEN A BURDEN ON THE CITY IN THAT THE CITY APPROVED THE ISSUANCE OF THE 2024 BONDS ON THE CITY'S BEHALF AND SELECTED CITY PROJECTS TO BE FINANCED WITH THE PROCEEDS OF THE 2024 BONDS (E.G. AN OBJECTIVE MANIFESTATION BY A GOVERNMENTAL UNIT THAT IT CONSIDERS THE ACTIVITIES OF THE CORPORATION TO BE ITS BURDEN). IN ADDITION, THE CORPORATION'S ACTIVITIES ASSISTED THE CITY IN DEFRAYING A GOVERNMENTAL EXPENSE. THE CORPORATION'S ACTIVITIES LESSEN THE BURDEN ON THE CITY BECAUSE THE 2024 BONDS ARE A SOURCE OF FINANCING THAT IS NOT SUBJECT TO THE SOUTH CAROLINA CONSTITUTIONAL LIMITATIONS ON DEBT ISSUED BY THE CITY. THE CORPORATION MAY ISSUE BONDS OR ARRANGE OTHER FINANCING IN THE FUTURE TO ACQUIRE AND CONVEY PROPERTY TO THE CITY. FORM 990, PAGE 6, PART VI, LINE 7A THE NUMBER OF DIRECTORS MAY BE INCREASED OR DECREASED, AND THE POSITIONS HELD BY PERSON COMPRISING DIRECTORS MAY BE MODIFIED, AS MAY BE DETERMINED FROM TIME TO TIME BY RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SPARTANBURG AT ANY TIME. FORM 990, PAGE 6, PART VI, LINE 7B ANY DIRECTOR MAY BE REMOVED AT ANY TIME WITH OR WITHOUT CAUSE BY THE CITY COUNCIL OF THE CITY OF SPARTANBURG. THE CITY COUNCIL MAY ALSO APPOINT ANY NEW BOARD MEMBERS. FORM 990, PAGE 6, PART VI, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON ON BEHALF OF THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 11B THE SECRETARY/TREASURER REVIEWS THE ENTIRE FORM 990 AND SHARES INFORMATION WITH BOARD MEMBERS. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CITY OF SPARTANBURG 295 E MAIN ST SPARTANBURG SC 29306 576000245 GOVT SC NA false false false false false false false false false false true false false false true false false false false false CITY OF SPARTANBURG J 1350000 AUDITED FINANCIAL STMTS